Publications
Partners
Johannesburg - Analysts say the shock resignation of Pretoria Portland Cement (PPC) [JSE:PPC] boss Ketso Gordhan could be related to his purchase of just under R10m shares in the company, according to a report by Business Day.
Gordhan resigned on Monday with immediate effect. He was appointed CEO in January last year.
"Ketso regrettably resigned due to differences of opinion regarding board procedures for the approval of certain decisions," the Business Day newspaper quoted PPC saying.
Analysts told the publication the reported clash may be a recent development as Gordhan had purchased just under R10m of the company's shares last month.
The announcement resulted in PPC's share price falling 7.69% to close at R30 on the Johannesburg Stock Exchange on Monday.Bheki Sibiya to be acting PPC boss
Chamber of Mines chief executive Bheki Sibiya has been appointed interim executive chairperson of PPC, the chamber said on Tuesday.
"This interim appointment has been approved by the office bearers of the Chamber of Mines and is with immediate effect and until 31 December 2014," it said in a statement.
The chamber's chief operating officer Roger Baxter would serve as acting chief executive until the end of December.
